In The Loop: A Cautionary Word On Coworking, WeWork, The Riveter, And Venture X

DanGuglielmone, treasurer and CFO at Federal Realty Investment Trust, gave a cautionary word to landlords interested in coworking

Federal Realty Investment Trust CFO Warns Against Coworking Tenants
In an interview with S&P Global Market Intelligence, DanGuglielmone, treasurer and CFO at Federal Realty Investment Trust, gave landlords a cautionary word about coworking tenants, stating that although coworking certainly offers an interesting value proposition,“landlords should be cautious about those players it chooses to do business with and should carefully manage exposure.”

The Riveter Acquired Coworking Rival Women in Kind
Bisnow reported this week that female-focused coworking brand, The Riveter, acquired Denver’s first coworking community for women, Women in Kind. The acquisition has added one coworking location to The Riveter’s portfolio, which currently boasts 9 coworking locations. The company plans to expand nationally to other markets, including Seattle, Los Angeles, Austin, Dallas, and Minneapolis.

WeWork Signs Major Lease in Brisbane
Commercial Real Estate reported this week that coworking giant, WeWork, has expanded is Australia presence with a new major long-term lease in Brisbane’s CBD. According to the report, WeWork will occupy 5 floors, totaling 4,600 square meters (49,514 sq ft), of  a 13,000 square meter (139,930 sq ft) office tower. WeWork is also planning on opening an additional coworking location in Perth this September.

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Venture X Continues to Expand Internationally
Coworking franchise, Venture X, announced this week that it has signed a Master License Partnership to take the coworking brand to the United Kingdom and Ireland. Currently, the brand has coworking locations across the United States, as well as in Canada, Australia, and 22 other countries.

 

 

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